If somebody told you that your garage could be worth £1 million, you probably wouldn't believe them. But one single garage in Newcastle is in fact on the market with a seven figure sum of £1,200,000.
But although it looks like a pretty standard garage from the offset, there is actually much more to it than first meets the eye - and sadly, having a garage like this and selling it alone won't make you a millionaire.
As you may have suspected, the run-of-the-mill garage is just a small part of what you will get for this large sum of money. The prospective buyer will get a tennis court thrown in and own a plot of land on one of the North East region's most prestigious streets.
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The garage is set on Graham Park in Gosforth, which is not just one of the most exclusive streets in Newcastle but the whole of the North East, where properties sold for an average price of £1,623,000 over the last year, reports ChronicleLive.
More than three and a half years ago, a six-bed detached property two houses down from the site sold for £1,375,000, and is predicted to be valued a lot higher now since house prices have shot up even more.
This is evidently the reason for the garage, and the plot of land it sits on, to command an eye watering price tag as the sale offers the buyer an opportunity to undertake a self-build project in the heart of Gosforth’s Conservation Area.
The tree-lined street of Graham Park Road often attracts the region’s higher-budget family buyers, drawn by the area’s fine late 19th century architecture, mature gardens and proximity to outstanding amenities and schools.
The road is frequently referenced as one the region’s most expensive and sought-after addresses.
The plot extends to 760 square metres and has planning permission for a detached dwelling which once completed would offer approximately 450m² of gross floor area across three levels.
High quality plans are available via Newcastle City Council ‘Public Access’ service or by request from Bradley Hall Gosforth.
The site on Graham Park Road, Newcastle Upon Tyne is on the market with a guide price of £1.2 million and is being marketed by Bradley Hall Chartered Surveyors & Estate Agents.
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